On today’s STOP TRADING segment on CNBC, Jim Cramer addressed the homebuilders all being up based on the rumors that Warren Buffett’s Berkshire Hathaway (NYSE:BRK/A). Cramer said it would more likely be Pulte Homes (NYSE;PHM) because Hovnanian (NYSE:HOV) is more regional and he can go in bigger with Pulte. This shows that it is too hard to short in this market. Cramer said Buffett has always liked this group.Cramer also noted USG (NYSE:USG today). If this all sounds familiar there is a reason.
Cramer also noted that Grant Prideco (NYSE:GRP) is the one to step up to after the General Electric (NYSE:GE) hint that it might begin building rigs in its earnings conference call. Grant Prideco shares traded up more than 1% on this Cramer endorsement.
Jon C. Ogg
July 13, 2007
Jon Ogg can be reached at firstname.lastname@example.org; he does not own securities in the companies he covers.